80 jili

80 jili California Water Service Group exec Michael Luu sells $50,727 in stock

Both Taiwan Semiconductor Manufacturing ( TSM -0.70% ) and ASML ( ASML -0.32% ) play critical roles in the semiconductor industry. Taiwan Semiconductor, or TSMC for short, is the world's leading semiconductor contract manufacturer. Given the cost to build manufacturing facilities (called fabs or foundries), the high capacity utilization needed for foundries to run profitably, and the technological expertise needed, most semiconductor companies prefer to just design chips and hire a third party to manufacture them. This is where TSMC fits in. ASML, meanwhile, makes the equipment that companies like TSMC use to manufacture semiconductors. While it has competitors, it is considered to have a near monopoly on extreme ultraviolet ( EUV) lithography, which are highly complex machines used to create advanced chips. This year, TSMC's stock has been the clear winner, up more than 90% as of this writing. ASML's stock, meanwhile, has fallen about 5% in 2024. Let's look at which stock could be set to outperform in 2025. Both stocks are riding the chip boom TSMC has been a big beneficiary of the overall proliferation of chips as well as the artificial intelligence (AI) infrastructure boom. The company's technological expertise has vaulted it to the forefront of advanced chip manufacturing. As such, the biggest chipmakers in the world, including Apple , Nvidia , and Broadcom , rely on it to manufacture their most advanced chips. Surprisingly, the AI chip boom has not helped all chip manufacturers, as TSMC's biggest rivals, Intel and Samsung , have struggled. This has allowed the company not only to gain share, but also to exert strong pricing power. In turn, this led to a strong gross margin for TSMC. TSMC saw strong growth this year, including seeing its third-quarter revenue jump 36% year over year to $23.5 billion. Meanwhile, its gross margin improved by 460 basis points sequentially to 57.8%, which helped lead to a 50% year-over-year increase in its earnings per American depositary receipt (ADR). 2025 is also setting up to be another good year for the company. According to Morgan Stanley , the company is set to nicely increase prices in 2025. Meanwhile, given the demand for AI and other chips, TSMC has been expanding to try to help companies like Nvidia keep up with demand. It also just announced its new fab in Japan had started mass chip production. TSMC's expansion should presumably help ASML, as it is one of its big three customers along with Samsung and Intel for its newer technology. But the company has called 2024 a transition year as it moves to its next-generation high-NA EUV technology. This transition appears to have slowed some orders. TSMC, meanwhile, has also balked at the high price of the new ASML machines (prices range from $350 million to $380 million per machine), but it is now expected to receive a machine by year-end. However, it has said it doesn't need the technology for producing current high-end chips, and it looks like it won't use the machines for mass production until at least 2030. Intel has been the company most receptive to ASML's new technology, being the first to get a new high-NA EUV technology machine, but its foundry business has struggled. Revenue fell for the segment last quarter, while losses have been mounting. The company is now in a bit of disarray following the retirement of its CEO in early December and reports it is looking to spin off its foundry business. As one of its big three customers, ASML could be affected. Nearly half of ASML's revenue in 2024, meanwhile, has come from China. This is despite the fact that the company is prohibited from selling its newer chipmaking technology to the country. This is a big shift from recent years, as China was just 9% of its revenue in the fourth quarter of 2022. This could be the result of Chinese companies rushing to get equipment on fears that export bans could expand to even older technology. While all this has led to some uncertainty surrounding ASML, the company is still basically a monopoly for high-end semiconductor equipment, and as chip production continues to grow, it should eventually benefit. Valuation and verdict From a valuation standpoint, TSMC is the cheaper stock trading at a forward price-to-earnings (P/E) ratio of around 22, while ASML's forward P/E currently sits at 29. TSMC has also been growing its revenue more quickly, up 36% last quarter versus 12% growth for ASML. TSM PE Ratio (Forward 1y) data by YCharts While TSMC is the cheaper stock growing more quickly, I wouldn't count ASML out. The semiconductor equipment business can be a bit lumpy, but this is a company with a virtual monopoly on high-end chipmaking machines in a market that is seeing continued increasing demand for advanced AI chips. Over the long term, it is set to be a winner. That said, for next year, TSMC edges it out as my pick. Fortunately, investors don't have to pick one or the other and can feel comfortable buying both for 2025.Looking ahead, Xiaomi's impressive sales figures signal a promising future for the company's automotive division. With a robust product pipeline and a strong focus on customer-centric innovation, Xiaomi is well-poised to sustain its growth momentum and further solidify its position in the competitive automotive landscape.

MEXICO CITY — It would take years, if ever, for Mexico to accomplish what incoming U.S. President Donald Trump is demanding to avoid tariffs: stemming the flow of migrants and drugs over the border. That’s why Mexican President Claudia Sheinbaum’s efforts to avoid a full-blown trade war might be more about doing enough for both sides to claim success. Even a quick phone call — two days after Trump threatened 25% tariffs against his southern neighbor — seemed to change the tone: Trump said on social media that the Mexican president agreed to “stop people from going to our Southern Border, effective immediately.” Sheinbaum, meanwhile, assured her constituents that she touted to Trump Mexico’s existing approach to migration, which she stressed respects human rights, and that a new deal to collaborate would avoid new tariffs, without providing specifics. The whole exchange was reminiscent of Trump’s first term, when he threatened to send troops to shut down the border and then-President Andres Manuel Lopez Obrador responded by sending the national guard to help apprehend migrants. The move had a limited immediate effect, but sent a strong image that proved enough to at least avert tariffs of up to 25% on all imports from Mexico. Trump’s threats have a “dual objective,” said Palmira Tapia, a political scientist currently working for the government of the State of Mexico. The U.S. president-elect, she said, is simultaneously seeking to appeal to his constituents and strengthen his hand in talks on migration, drugs and trade. Sheinbaum also faces two challenges: She now must find a way to appease Trump to avoid tariffs that could hit 11% of Mexico’s gross domestic product, while also avoiding the perception — at home, and in the White House — that she will easily bend to demands from up north. “She’s talking to Trump, but she’s also talking to the Mexican public. It has to do with giving a dignified response before her voters, but at the same time trying to stop Trump,” said Catalina Perez Correa, a researcher at the Supreme Court’s Center for Constitutional Studies. “She’s saying, ‘I’m not going to let myself be stepped on by Trump.’ She’s saving face in front of the Mexican public.” Migration reality Mexico has long been a stomping ground for the U.S. when it comes to migration policy. It’s been tasked under successive U.S. presidents with beefing up its border security, increasing highway checkpoints and removing migrants from freight trains they often board. Even though migration rose far beyond the 2019 levels in the years after Lopez Obrador’s show of militarizing the border, Mexico has remained an at-times willing partner, accepting most of the millions of migrants who were quickly turned away from the U.S. border during the pandemic. But it hasn’t always been eager to help: The Biden administration often viewed AMLO, as the former president was known, as needing frequent reminders of its expectations for him on enforcement. In 2023, Biden Cabinet officials even visited AMLO in Mexico City just days after Christmas to urge him to do more as a record number of migrants reached the border. Under pressure from the White House during the U.S. election, Mexico helped it decrease border crossings by 65% over an 11-month period starting in December 2023. To do so, Mexican authorities have been detaining migrants in the north of the country and busing them south. There, they are forced to wait until they get an official appointment to apply for asylum in the U.S. — which can take months, if it ever happens at all. It’s all resulted in more than double the number of apprehensions of undocumented migrants between January and August compared with a year earlier, although Mexico has deported few. Experts have said that’s creating a humanitarian crisis in some of the southern cities where migrants are shipped off to. It’s also ratcheting up tensions with some locals, who argue that there aren’t enough jobs or resources to accommodate the newcomers. “What they’re doing now in Mexico is militarization of the border,” said Perez Correa. To further reduce border crossings into the U.S., Mexico could either carry out mass deportations or offer more opportunities to migrants in its territory. Both scenarios seem unrealistic. Simply increasing deportations would go against Lopez Obrador’s policy — which Sheinbaum inherited — of trying to address the problems in their origin countries that pushed them to leave, and it would be an expense for Mexico. After Sheinbaum’s call with Trump, she reiterated her government offers migrants options for international protection in its territory or “voluntary or assisted return” to their countries. The second option doesn’t seem feasible either: Most people want to go to the U.S., where they expect to have higher-paying jobs, more family or community support, and greater safety than in Mexico. Chemical diversions Deaths related to fentanyl — the cheap, synthetic opioid — have reached epidemic levels in the U.S. That’s why reining in the flow of the drug was on Trump’s list of demands. Should recent history be any indication, intervention is never simple. The U.S. arrest of a Mexican alleged drug leader has led to prolonged shootouts in recent months. And in any case, some academics argue simply confiscating more drugs means traffickers learn to produce more, to meet U.S. demand. So far, Mexico has worked to improve its technical capabilities to detect illicit substances at its ports, especially precursor chemicals and fentanyl. “The Navy has provided material and personnel to all ports for the fulfillment of these tasks, the personnel have the necessary training to be able to detect these substances,” said Captain Jose Barradas in an interview at the Manzanillo port, in the state of Colima. “All merchandise that arrives is prone to review under strict security protocols.” Sheinbaum also picked former Mexico City police chief Omar Garcia Harfuch to lead a new national security strategy, a move that was read inside Mexico as a signal of her willingness to increase enforcement in areas where the previous administration had been more hands-off. There’s more that could be done — but it would be hard. Trying to seize these substances at ports is insufficient because synthetic drugs tend to be very small, making them more difficult to detect than traditional drugs, said Victoria Dittmar, researcher at Insight Crime. Those who produce them often innovate with their recipes and use new chemicals that are not illegal. “Mexico can open collaboration paths with the private sector, with the chemical industry, because they know perfectly well its supply chains and the vulnerable areas where there could be diversions,” she said. “This collaboration is essential.” Mexico can also work to identify intermediaries that connect fentanyl producers with chemical suppliers abroad and in the country, people who work in certain companies and are authorized to divert these substances, according to Dittmar. Still, “the main weakness is not putting demand reduction as a priority, to prevent overdose deaths,” Dittmar said. “It’s a shared responsibility. It’s not just the fault of Mexico, the U.S. or Canada, but it’s an issue that affects the entire North American region.” A senior Mexican official said that the country’s actions to address drug trafficking have moved the nation in the direction of the fentanyl crackdown that Trump is demanding. The official cited a new law that will allow for coordinated intelligence efforts that is due to be implemented next year. History repeats It’s plausible that in the medium-term Trump will lower the intensity of his threats because a trade war would be the worst case scenario for both countries, said Tapia, the political scientist. But until then, she said, “Sheinbaum is on trial as to how well she will do” relative to her predecessor, who had a respectful relationship with Trump and often praised him. One strategy that Sheinbaum could pursue: Finding ways to give Trump the appearance of political victory. That was part of the rationale behind AMLO’s deployment of the National Guard — a move Trump still talks about now. “We got thousands of Mexicans patrolling our border free of charge,” he boasted at a recent event about his relationship with AMLO. “He’s a socialist,” Trump said. “But these are minor details.” ——— (With assistance from Eric Martin, Carolina Millan and Ramsey Al-Rikabi.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.

President-elect Donald Trump’s lawyers urge judge to toss his hush money convictionOmnicom Group Inc. stock underperforms Tuesday when compared to competitors

Battery Life and Charging:The Perfect Choice in Aaron Ramsdale:

As open enrollment for Affordable Care Act plans continues through Jan. 15, you’re likely seeing fewer social media ads promising monthly cash cards worth hundreds, if not thousands, of dollars that you can use for groceries, medical bills, rent and other expenses. But don’t worry. You haven’t missed out on any windfalls. Clicking on one of those ads would not have provided you with a cash card — at least not worth hundreds or thousands. But you might have found yourself switched to a health insurance plan you did not authorize, unable to afford treatment for an unforeseen medical emergency, and owing thousands of dollars to the IRS, according to an ongoing lawsuit against companies and individuals who plaintiffs say masterminded the ads and alleged scams committed against millions of people who responded to them. The absence of those once-ubiquitous ads are likely a result of the federal government suspending access to the ACA marketplace for two companies that market health insurance out of South Florida offices, amid accusations they used “fraudulent” ads to lure customers and then switched their insurance plans and agents without their knowledge. In its suspension letter, the Centers for Medicare & Medicaid Services (CMS) cited “credible allegations of misconduct” in the agency’s decision to suspend the abilities of two companies — TrueCoverage (doing business as Inshura) and BenefitAlign — to transact information with the marketplace. CMS licenses and monitors agencies that use their own websites and information technology platforms to enroll health insurance customers in ACA plans offered in the federal marketplace. The alleged scheme affected millions of consumers, according to a lawsuit winding its way through U.S. District Court in Fort Lauderdale that seeks class-action status. An amended version of the suit, filed in August, increased the number of defendants from six to 12: — TrueCoverage LLC, an Albuquerque, New Mexico-based health insurance agency with large offices in Miami, Miramar and Deerfield Beach. TrueCoverage is a sub-tenant of the South Florida Sun Sentinel in a building leased by the newspaper in Deerfield Beach. — Enhance Health LLC, a Sunrise-based health insurance agency that the lawsuit says was founded by Matthew Herman, also named as a defendant, with a $150 million investment from hedge fund Bain Capital’s insurance division. Bain Capital Insurance Fund LP is also a defendant. — Speridian Technologies LLC, accused in the lawsuit of establishing two direct enrollment platforms that provided TrueCoverage and other agencies access to the ACA marketplace. — Benefitalign LLC, identified in the suit as one of the direct enrollment platforms created by Speridian. Like Speridian and TrueCoverage, the company is based in Albuquerque, New Mexico. — Number One Prospecting LLC, doing business as Minerva Marketing, based in Fort Lauderdale, and its founder, Brandon Bowsky, accused of developing the social media ads that drove customers — or “leads” — to the health insurance agencies. — Digital Media Solutions LLC, doing business as Protect Health, a Miami-based agency that the suit says bought Minerva’s “fraudulent” ads. In September, the company filed for Chapter 11 protection from creditors in United States Bankruptcy Court in Texas, which automatically suspended claims filed against the company. — Net Health Affiliates Inc., an Aventura-based agency the lawsuit says was associated with Enhance Health and like it, bought leads from Minerva. — Garish Panicker, identified in the lawsuit as half-owner of Speridian Global Holdings and day-to-day controller of companies under its umbrella, including TrueCoverage, Benefitalign and Speridian Technologies. — Matthew Goldfuss, accused by the suit of overseeing and directing TrueCoverage’s ACA enrollment efforts. All of the defendants have filed motions to dismiss the lawsuit. The motions deny the allegations and argue that the plaintiffs failed to properly state their claims and lack the standing to file the complaints. The Sun Sentinel sent requests for comment and lists of questions about the cases to four separate law firms representing separate groups of defendants. Three of the law firms — one representing Brandon Bowsky and Number One Prospecting LLC d/b/a Minerva Marketing, and two others representing Net Health Affiliates Inc. and Bain Capital Insurance Fund — did not respond to the requests. A representative of Enhance Health LLC and Matthew Herman, Olga M. Vieira of the Miami-based firm Quinn Emanuel Urquhart & Sullivan LLP, responded with a short message saying she was glad the newspaper knew a motion to dismiss the charges had been filed by the defendants. She also said that, “Enhance has denied all the allegations as reported previously in the media.” Catherine Riedel, a communications specialist representing TrueCoverage LLC, Benefitalign LLC, Speridian Technologies LLC, Girish Panicker and Matthew Goldfuss, issued the following statement: “TrueCoverage takes these allegations very seriously and is responding appropriately. While we cannot comment on ongoing litigation, we strongly believe that the allegations are baseless and without merit. “Compliance is our business. The TrueCoverage team records and reviews every call with a customer, including during Open Enrollment when roughly 500 agents handle nearly 30,000 calls a day. No customer is enrolled into any policy without a formal verbal consent given by the customer. If any customer calls in as a result of misleading content presented by third-party marketing vendors, agents are trained to correct such misinformation and action is taken against such third-party vendors.” Through Riedel, the defendants declined to answer follow-up questions, including whether the company remains in business, whether it continues to enroll Affordable Care Act clients, and whether it is still operating its New Mexico call center using another affiliated technology platform. The suspension notification from the Centers for Medicare and Medicaid Services letter cites several factors, including the histories of noncompliance and previous suspensions. The letter noted suspicion that TrueCoverage and Benefitalign were storing consumers’ personally identifiable information in databases located in India and possibly other overseas locations in violation of the centers’ rules. The letter also notes allegations against the companies in the pending lawsuit that “they engaged in a variety of illegal practices, including violations of the (Racketeer Influenced & Corrupt Organizations, or RICO Act), misuse of consumer (personal identifiable information) and insurance fraud.” The amended lawsuit filed in August names as plaintiffs five individuals who say their insurance plans were changed and two agencies who say they lost money when they were replaced as agents. The lawsuit accuses the defendants of 55 counts of wrongdoing, ranging from running ads offering thousands of dollars in cash that they knew would never be provided directly to consumers, switching millions of consumers into different insurance policies without their authorization, misstating their household incomes to make them eligible for $0 premium coverage, and “stealing” commissions by switching the agents listed in their accounts. TrueCoverage, Enhance Health, Protect Health, and some of their associates “engaged in hundreds of thousands of agent-of-record swaps to steal other agents’ commissions,” the suit states. “Using the Benefitalign and Inshura platforms, they created large spreadsheet lists of consumer names, dates of birth and zip codes.” They provided those spreadsheets to agents, it says, and instructed them to access platforms linked to the ACA marketplace and change the customers’ agents of record “without telling the client or providing informed consent.” “In doing so, they immediately captured the monthly commissions of agents ... who had originally worked with the consumers directly to sign them up,” the lawsuit asserts. TrueCoverage employees who complained about dealing with prospects who called looking for cash cards were routinely chided by supervisors who told them to be vague and keep making money, the suit says. When the Centers for Medicare and Medicaid Services began contacting the company in January about customer complaints, the suit says TrueCoverage enrollment supervisor Matthew Goldfuss sent an email instructing agents “do not respond.” The lawsuit states the “scheme” was made possible in 2021 when Congress passed the American Rescue Plan Act in the wake of the COVID pandemic. The act made it possible for Americans with household incomes between 100% and 150% of the federal poverty level to pay zero in premiums and it enabled those consumers to enroll in ACA plans all year round, instead of during the three-month open enrollment period from November to January. Experienced health insurance brokers recognized the opportunity presented by the changes, the lawsuit says. More than 40 million Americans live within 100% and 150% of the federal poverty level, while only 15 million had ACA insurance at the time. The defendants developed or benefited from online ads, the lawsuit says, which falsely promised “hundreds and sometimes thousands of dollars per month in cash benefits such as subsidy cards to pay for common expenses like rent, groceries, and gas.” Consumers who clicked on the ads were brought to a landing page that asked a few qualifying questions, and if their answers suggested that they might qualify for a low-cost or no-cost plan, they were provided a phone number to a health insurance agency. There was a major problem with the plan, according to the lawsuit. “Customers believe they are being routed to someone who will send them a free cash card, not enroll them in health insurance.” By law, the federal government sends subsidies for ACA plans to insurance companies, and not to individual consumers. Scripts were developed requiring agents not to mention a cash card, and if a customer mentions a cash card, “be vague” and tell the caller that only the insurance carrier can provide that information, the lawsuit alleges. In September, the defendants filed a motion to dismiss the claims. In addition to denying the charges, they argued that the class plaintiffs lacked the standing to make the accusations and failed to demonstrate that they suffered harm. The motion also argued that the lawsuit’s accusations failed to meet requirements necessary to claim civil violations of the RICO Act. Miami-based attorney Jason Kellogg, representing the plaintiffs, said he doesn’t expect a ruling on the motion to dismiss the case for several months. The complaint also lists nearly 50 companies, not named as defendants, that it says fed business to TrueCoverage and Enhance Health. Known in the industry as “downlines,” most operate in office parks throughout South Florida, the lawsuit says. The lawsuit quotes former TrueCoverage employees complaining about having to work with customers lured by false cash promises in the online ads. A former employee who worked in the company’s Deerfield Beach office was quoted in the lawsuit as saying that senior TrueCoverage and Speridian executives “knew that consumers were calling in response to the false advertisements promising cash cards and they pressured agents to use them to enroll consumers into ACA plans.” A former human resources manager for TrueCoverage said sales agents frequently complained “that they did not feel comfortable having to mislead consumers,” the lawsuit said. Over two dozen agents “came to me with these complaints and showed me the false advertisements that consumers who called in were showing them,” the lawsuit quoted the former manager as saying. For much of the time the companies operated, the ACA marketplace enabled agents to easily access customer accounts using their names and Social Security numbers, change their insurance plans and switch their agents of record without their knowledge or authorization, the lawsuit says. This resulted in customers’ original agents losing their commissions and many of the policyholders finding out they suddenly owed far more for health care services than their original plans had required, the suit states. It says that one of the co-plaintiffs’ health plans was changed at least 22 times without her consent. She first discovered that she had lost her original plan when she sought to renew a prescription for her heart condition and her doctor told her she did not have health insurance, the suit states. Another co-plaintiff’s policy was switched after her husband responded to one of the cash card advertisements, the lawsuit says. That couple’s insurance plan was switched multiple times after a TrueCoverage agent excluded the wife’s income from an application so the couple would qualify. Later, they received bills from the IRS for $4,300 to cover tax credits issued to pay for the plans. CMS barred TrueCoverage and BenefitAlign from accessing the ACA marketplace. It said it received more than 90,000 complaints about unauthorized plan switches and more than 183,500 complaints about unauthorized enrollments, but the agency did not attribute all of the complaints to activities by the two companies. In addition, CMS restricted all agents’ abilities to alter policyholders’ enrollment information, the lawsuit says. Now access is allowed only for agents that already represent policyholders or if the policyholder participates in a three-way call with an agent and a marketplace employee. Between June and October, the agency barred 850 agents and brokers from accessing the marketplace “for reasonable suspicion of fraudulent or abusive conduct related to unauthorized enrollments or unauthorized plan switches,” according to an October CMS news release . The changes resulted in a “dramatic and sustained drop” in unauthorized activity, including a nearly 70% decrease in plan changes associated with an agent or broker and a nearly 90% decrease in changes to agent or broker commission information, the release said. It added that while consumers were often unaware of such changes, the opportunity to make them provided “significant financial incentive for non-compliant agents and brokers.” But CMS’ restrictions might be having unintended consequences for law-abiding agents and brokers. A story published by Insurance News Net on Nov. 11 quoted the president of the Health Agents for America (HAFA) trade group as saying agents are being suspended by CMS after being flagged by a mysterious algorithm that no one can figure out. The story quotes HAFA president Ronnell Nolan as surmising, “maybe they wrote too many policies on the same day for people who have the same income or they’re writing too many policies on people of a certain occupation.” Nolan continued, “We have members who have thousands of ACA clients. They can’t update or renew their clients. So those consumers have lost access to their professional agent, which is simply unfair.” Ron Hurtibise covers business and consumer issues for the South Florida Sun Sentinel. He can be reached by phone at 954-356-4071, on Twitter @ronhurtibise or by email at rhurtibise@sunsentinel.com.

NEW YORK — President-elect Donald Trump’s lawyers formally asked a judge Monday to throw out his hush money criminal conviction , arguing continuing the case would present unconstitutional “disruptions to the institution of the Presidency.“ In a filing made public Tuesday, Trump’s lawyers told Manhattan Judge Juan M. Merchan that dismissal is warranted because of the “overwhelming national mandate granted to him by the American people on November 5, 2024.” They also cited President Joe Biden’s recent pardon of his son, Hunter Biden, who was convicted of tax and gun charges . People are also reading... 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Former President Donald Trump walks to make comments to members of the news media May 30 after a jury convicted him of felony crimes for falsifying business records in a scheme to illegally influence the 2016 election at Manhattan Criminal Court in New York. In their filing Monday, Trump's attorneys dismissed the idea of holding off sentencing until Trump is out of office as a “ridiculous suggestion.” Following Trump’s election victory last month, Merchan halted proceedings and indefinitely postponed his sentencing, previously scheduled for late November, to allow the defense and prosecution to weigh in on the future of the case. He also delayed a decision on Trump’s prior bid to dismiss the case on immunity grounds. Trump has been fighting for months to reverse his conviction on 34 counts of falsifying business records to conceal a $130,000 payment to porn actor Stormy Daniels to suppress her claim that they had sex a decade earlier. He says they did not and denies wrongdoing. Taking a swipe at Bragg and New York City, as Trump often did throughout the trial, the filing argues that dismissal would also benefit the public by giving him and “the numerous prosecutors assigned to this case a renewed opportunity to put an end to deteriorating conditions in the City and to protect its residents from violent crime.” Clearing Trump, the lawyers added, also would allow him to “to devote all of his energy to protecting the Nation.” The defense filing was signed by Trump lawyers Todd Blanche and Emil Bove, who represented Trump during the trial and since were selected by the president-elect to fill senior roles at the Justice Department. A dismissal would erase Trump’s historic conviction, sparing him the cloud of a criminal record and possible prison sentence. Trump is the first former president to be convicted of a crime and the first convicted criminal to be elected to the office. Trump takes office Jan. 20. Merchan hasn’t set a timetable for a decision. Trump team signs agreement to allow Justice to conduct background checks on nominees, staff ZEKE MILLERAssociated Press Merchan could also decide to uphold the verdict and proceed to sentencing, delay the case until Trump leaves office, wait until a federal appeals court rules on Trump’s parallel effort to get the case moved out of state court or choose some other option. Prosecutors cast the payout as part of a Trump-driven effort to keep voters from hearing salacious stories about him. Trump’s then-lawyer Michael Cohen paid Daniels. Trump later reimbursed him, and Trump’s company logged the reimbursements as legal expenses — concealing what they really were, prosecutors alleged. Trump pledged to appeal the verdict if the case is not dismissed. He and his lawyers said the payments to Cohen were properly categorized as legal expenses for legal work. A month after the verdict, the Supreme Court ruled that ex-presidents can’t be prosecuted for official acts — things they did in the course of running the country — and that prosecutors can’t cite those actions to bolster a case centered on purely personal, unofficial conduct. Trump’s lawyers cited the ruling to argue that the hush money jury got some improper evidence, such as Trump’s presidential financial disclosure form, testimony from some White House aides and social media posts made during his first term. Prosecutors disagreed and said the evidence in question was only “a sliver” of their case. If the verdict stands and the case proceeds to sentencing, Trump’s punishments would range from a fine to probation to up to four years in prison — but it’s unlikely he’d spend any time behind bars for a first-time conviction involving charges in the lowest tier of felonies. Because it is a state case, Trump would not be able to pardon himself once he returns to office. Presidential pardons apply only to federal crimes. PHOTOS: Donald Trump's Election Day 2024 Republican presidential nominee former President Donald Trump, with Melania Trump and Barron Trump, arrives to speak at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump arrives at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks as Melania Trump looks on at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican Presidential nominee former President Donald Trump arrives with former first lady Melania Trump and son Barron Trump at the Palm Beach County Convention Center during an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Lynne Sladky) Republican presidential nominee former President Donald Trump speaks as former first lady Melania Trump listens after they voted on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks as former first lady Melania Trump listens after they voted on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks as former first lady Melania Trump listens after they voted on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks as former first lady Melania Trump listens after they voted on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump visits his campaign headquarters, Tuesday, Nov. 5, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump, joined by, from right, Melania Trump and Barron Trump, arrives to speaks at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican presidential nominee former President Donald Trump arrives to speak at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican presidential nominee former President Donald Trump arrives at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump arrives at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican presidential nominee former President Donald Trump speaks at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican presidential nominee former President Donald Trump arrives at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Alex Brandon) Republican presidential nominee former President Donald Trump and former first lady Melania Trump walk after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump and former first lady Melania Trump walk after voting on Election Day at the Morton and Barbara Mandel Recreation Center, Tuesday, Nov. 5, 2024, in Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump arrives at an election night watch party at the Palm Beach Convention Center, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Evan Vucci) Republican presidential nominee former President Donald Trump speaks at an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Julia Demaree Nikhinson) Republican Presidential nominee former President Donald Trump arrives with =former first lady Melania Trump and son Barron Trump at the Palm Beach County Convention Center during an election night watch party, Wednesday, Nov. 6, 2024, in West Palm Beach, Fla. (AP Photo/Lynne Sladky) Get the latest in local public safety news with this weekly email.U.S. leaders from across the political spectrum began honoring former President Jimmy Carter just minutes after the Carter Center confirmed that the 39th president of the United States had died Sunday. The top Democrat and Republican in the Senate each released statements honoring Carter’s life and impact. “President Carter’s faith in the American people and his belief in the power of kindness and humility leave a strong legacy,” said Senate Majority Leader Chuck Schumer, D-N.Y. “He taught us that the strength of a leader lies not in rhetoric but in action, not in personal gain but in service to others.” Outgoing Senate Minority Leader Mitch McConnell, R-Ky., said that “Carter’s character and commitment, just like his crops, were fruits of all-American soil.” “After every season when life led him to lofty service far from home, he came back home again, determined to plow his unique experiences and influence into helping others; into building and teaching and volunteering; into further enriching the same rich soil that had made his own life possible,” McConnell said. "Like much of the Greatest Generation, President Carter will be remembered by what he built and left behind for us — a model of service late into life, a tireless devotion to family and philanthropy, and a more peaceful world to call home," said Sen. Mark Warner, D-Va., in a statement. Sen. Andy Kim, D-N.J., said in a post on X that Carter "gave us a pure and lasting example of a public servant." "I’m sending love to the Carter family today as we honor his life and untiring, humble mission to help others," he added. The condolences rolled in from both sides of the aisle, with Republicans also honoring Carter, a Democrat. Sen. Rick Scott, R-Fla., said that Carter "devoted his entire life to serving others." "Please join Ann & me in praying for the Carter family, their friends & all who worked alongside the former president," he said. Carter was widely recognized for his work on human rights and social justice following his presidency. He established the Carter Center, a nonprofit that was founded "on a fundamental commitment to human rights and the alleviation of human suffering," according to the group's website. Carter also worked with Habitat for Humanity, a nonprofit, to help build homes for people in need. "Even more historic than his time in the White House was Carter’s post-presidency, which he dedicated to serving his fellow man," said Sen. Mike Lee, R-Utah, in a post on X . "From providing housing for thousands of families to Sunday school for the children of his community, he will remain distinguished among America’s leaders for his great humanitarian accomplishments and deep commitment to his Christian faith."Several politicians also pointed to Carter’s faith when reacting to his death. Carter taught Sunday school in his hometown of Plains, Georgia, up until the pandemic. “We were bit by different political bug but hv much in common incl love of the Lord,” said Sen. Chuck Grassley, R-Iowa, in a typical short-hand post to X.Bitcoin BTC/USD scripted history in 2024, not only breaking the long-held record of $69,000 but also hitting the magical $100,000 milestone. A slew of crucial developments occurred throughout the year, providing strong impetus to the apex cryptocurrency. With the New Year knocking on our doorsteps, let's look back at some of the most pivotal bullish triggers for Bitcoin in 2024. Trump Presidency : The electoral triumph of Donald Trump , who aggressively marketed himself as a cryptocurrency-friendly candidate during the campaign, proved to be the biggest positive driver for Bitcoin. Since the elections, the leading cryptocurrency has surged 41%, hitting a peak of $108,000. Trump pledged to establish a national Bitcoin reserve on the campaign trail, and reports suggested he might pass an executive order to establish one. He also appointed pro-cryptocurrency venture capitalist David Sacks as the first-ever "White House A.I. & Crypto Czar,” signaling a commitment to fulfill his election promises. Demand from Bitcoin ETFs: The successful launch of the first-ever U.S. exchange-traded funds that track the price of Bitcoin in early 2024 set the stage for broader institutional adoption of the cryptocurrency. Since listing, the ETFs have seen net inflows of nearly $36 billion, with over $2 billion in transactions recorded as of Dec. 26, according to SoSo Value. BlackRock's iShares Bitcoin Trust ETF IBIT emerged as the most successful fund, holding assets worth over $52 billion. See Also : All Vitalik Buterin Wanted For Xmas Was A Hippopotamus — Ethereum Co-Founder Is Now The Adoptive Father Of Viral Sensation Moo Deng Monetary Policy Easing: The Federal Reserve delighted risk-on markets by enacting a 0.5% interest rate cut in September, the first in over four years. The bold reduction was followed by a more modest 25-basis-point cut in the successive months. A drop in interest rates typically increases liquidity and borrowing power, leading to higher bets for stocks and cryptocurrencies, which are perceived to be risky investments. Bitcoin's Halving Event : The quadrennial event took place in April , further squeezing the supply of an asset with deflationary characteristics. The event slashed the mining reward after each successful block validation from 6.25 BTC to 3.125 BTC. Previous instances of halving were followed by significant gains in Bitcoin. Since it's a known cyclical event, some experts argue that the halving is already priced in and there is no real expectation of Bitcoin reacting in a certain way after the event. Read Next: Vivek Ramaswamy’s Strive Applies For ‘Bitcoin Bond’ ETF That Tracks MicroStrategy’s Convertible Securities Market © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

In conclusion, the full-scale rollout of personal pensions represents a significant advancement in retirement planning, with the potential to transform the way individuals prepare for their post-work years. By expanding coverage, optimizing the system, and embracing innovative practices, the industry is poised to create a more resilient and sustainable personal pension landscape. With continued commitment and collaboration, the future of personal pensions holds great promise in securing the financial well-being of individuals across all walks of life.

CD Bioparticles Launches New Line of Customizable Patches for Cosmetic and Healthcare Applications 11-25-2024 08:50 PM CET | Health & Medicine Press release from: ABNewswire CD Bioparticles announces offering of large quantities of customizable patch products for various applications. CD Bioparticles, a leading manufacturer and supplier of numerous drug delivery products and services, is pleased to announce that it is now offering large quantities of customizable patch products [ https://www.cd-bioparticles.net/patches ] to healthcare and cosmetic related companies for various applications. These patches can be tailored to meet the specific needs of cosmetic/beauty, skin care and healthcare product manufacturers. CD Bioparticles has a team of experienced scientists and engineers who are dedicated to developing innovative solutions for the life science and pharmaceutical industries. These new patches are made with high-quality materials and are designed to be safe and effective. They can be customized with a variety of features, including different sizes, shapes, and adhesive strengths. In addition, CD Bioparticles' patch products are being used by a variety of companies to develop new and innovative products. For example, the Mosquito Repellent Patch (Catalog: CDTP24-024-L), a scientifically formulated product using 100% natural plant extracts such as lavender, eucalyptus and citronella oils, is designed for military field operations and outdoor work. Using nanometer technology, these extracts are combined with polymer gels to create a protective circle 4-6 metres in diameter. If customers simply stick the patch onto clothing or nearby surfaces and its pleasant fragrance will protect the whole family from mosquitoes for 12-48 hours. Because it's all natural, this product is 100% safe, environmentally friendly and has no side effects. Easy to use and easy to tear, it's a practical everyday essential, especially effective when used outdoors. The natural aqueous polymer extract of mosquito repellent plants, in particular Eucalyptus globulus oil, provides maximum protection without any harmful toxins or side effects. Guarana Weight Loss Patch (Catalog: CDTP24-014-L) is also available for customization. Since it's derived from natural herbs, it avoids the side effect of diarrhoea. It is also more effective than pills because it bypasses the digestive system, liver and kidneys, preserving its active ingredients. Customers can simply apply the patch to the navel area for a full treatment cycle to experience its effectiveness. Its benefits include increasing metabolism and fat burning, evenly reducing and blocking the absorption of fats, sugars and starches, suppressing appetite and facilitating natural weight loss and body shaping. Harnessing the power of nature, the formula of Golden Facial Mask (Catalog: CDTP24-028-L) uses ingredients that closely mimic human skin tissue. High-density plant collagen and advanced transparent mask technology enable rapid skin absorption, delivering a potent blend of whitening, moisturising and pore-tightening benefits. Customers can experience the transformative effects of firming, brightening and anti-aging ingredients that penetrate effortlessly into the skin, stimulating cellular regeneration and repair. The result is a more radiant, elastic and luminous complexion. For more information about CD Bioparticles' new patch products and other innovative solutions, please visit https://www.cd-bioparticles.net/patches . About CD Bioparticles CD Bioparticles is an established drug delivery company that provides customized solutions for developing and manufacturing novel biocompatible drug delivery systems. It specializes in various formulation and drug delivery technologies, from conventional liposomes and PEGylated liposomes to polymer microspheres and nanoparticles for drug delivery. The company also provides contract research services for drug delivery formulation, formulation feasibility study, process development and scale-up, as well as analytical and non-clinical research services. Media Contact Company Name: CD Bioparticles Contact Person: Richard J. Gray Email:Send Email [ https://www.abnewswire.com/email_contact_us.php?pr=cd-bioparticles-launches-new-line-of-customizable-patches-for-cosmetic-and-healthcare-applications ] State: New York Country: United States Website: https://www.cd-bioparticles.net/ This release was published on openPR.

The Egyptian real estate market in 2024 saw significant shifts driven by investor interest in hospitality, tourism, and experiential spaces, alongside the rising appeal of the North Coast, particularly with the launch of the Ras El Hekma project. This growing demand from both Egyptian and international buyers is expected to continue shaping the market into 2025. Savills projects that in 2025, leasing and property management advisory services will continue to be in high demand as clients seek expert guidance to optimize their portfolios. The North Coast, boosted by high-profile developments like Ras El Hekma, is set to remain a key focus, driving ongoing interest in the region. Retail spaces are also poised for strong growth over the next two years, with an increasing consumer preference for experiential and lifestyle-oriented environments. Developers will prioritize creating dynamic, engaging spaces that cater to evolving consumer behaviors, shifting the focus from transactional retail to immersive, memorable experiences. Savills Egypt is looking ahead to the next year with a focus on overcoming emerging challenges and leveraging its expertise to drive sustainable growth, forge meaningful partnerships, and support Egypt’s evolving real estate landscape. One of Savills’ major 2024 success stories was its transformation of Majarrah, a flagship mixed-use development by Bonyan for Investment and Development. By focusing on tenant repositioning, marketing innovation, and operational improvements, Savills helped increase occupancy from 54% to 92%, boost foot traffic by 35%, and achieve up to 100% sales growth for tenants. The firm also facilitated record sales of EGP 17bn for Qatari Diar Real Estate Investment Company. Savills’ Building and Project Consultancy team played a crucial role in creating new offices for multinational companies like Bayer, Chevron, Informa, and Organon. Chevron’s Manoji Thomas praised Savills for adhering to budget and schedule. Additionally, Savills achieved a 98.4% occupancy rate and more than 48,000 daily visitors at the new extension of Arkan Plaza, setting a record for commercial projects in West Cairo. Beyond commercial successes, Savills Egypt contributed to national initiatives, including repurposing underutilized land with the World Bank-led consortium and the Sheikh Zayed City Council to support Vision 2030. The firm also provided key advice to the Administrative Capital for Urban Development (ACUD) on large-scale urban projects, collaborating with Dar El Handassa. Catesby Langer-Paget, Head of Savills Egypt, emphasized the firm’s significant role in shaping Egypt’s real estate future in 2024. Langer-Paget said, “Despite the macroeconomic challenges, Savills Egypt continued to deliver value-driven solutions through phased development and cost management. We embraced technology and optimized operations to navigate market complexities.” In 2024, Savills also became a thought leader, hosting the “Savills Retail Connect” event and leading a national workshop with the World Bank, sharing insights from the Sheikh Zayed Pilot Project to guide other municipalities. Looking toward 2025, Savills Egypt plans to focus on emerging sectors like hospitality and logistics, leveraging global expertise and local market insights to drive the evolution of Egypt’s real estate sector. “Savills Egypt has transformed into a partner of progress,” said Langer-Paget, underscoring the firm’s commitment to innovation, value creation, and growth in the years ahead.In conclusion, Macron's presidency is at a critical juncture, with his leadership and the stability of the French government hanging in the balance. The label of a "lame duck" administration is not undeserved, as the challenges facing France both at home and abroad continue to mount, testing the resilience and effectiveness of its leadership. The road ahead is fraught with uncertainties and obstacles, and only time will tell whether Macron can rise to the occasion and steer the country through these turbulent times.

Market cap of 6 of top 10 most valuable firms jumps ₹86,848 crore; HDFC Bank, RIL amongst top gainersOne of the key objectives of the AI data center is to leverage artificial intelligence and machine learning algorithms to enhance data analysis and decision-making processes. With the proliferation of IoT devices and the continuous influx of data from various sources, businesses are constantly seeking more efficient ways to extract insights and derive value from their data. The AI data center aims to address this challenge by providing a robust platform that can process vast amounts of data in real-time and generate actionable intelligence.

LOS ANGELES (AP) — Blake Snell and the Los Angeles Dodgers have finalized a $182 million, five-year contract. The reigning World Series champions announced the deal with the two-time Cy Young Award winner on Saturday. Snell, who turns 32 on Wednesday, went 5-3 with a 3.12 ERA in 20 starts for San Francisco this year, throwing a no-hitter at Cincinnati on Aug. 2 for one of only 16 individual shutouts in the major leagues this season. The left-hander struck out 145 and walked 44 in 104 innings. He was sidelined between April 19 and May 22 by a strained left adductor and between June 2 and July 9 by a strained left groin. Snell gets a $52 million signing bonus , payable on Jan. 20, and annual salaries of $26 million, of which $13 million each year will be deferred. Because Snell is a Washington state resident, the signing bonus will not be subject to California income tax. Snell joins Shohei Ohtani and Yoshinobu Yamamoto atop Los Angeles’ rotation. Ohtani didn’t pitch this year while recovering from right elbow surgery but the two-way star is expected back on the mound in 2025. Snell won Cy Young Awards in 2018 with Tampa Bay and 2023 with San Diego. He is 76-58 with a 3.19 ERA in nine seasons with the Rays (2016-20), Padres (2021-23) and Giants. Because he turned down a qualifying offer from San Diego last November, the Giants were not eligible to give Snell another one and won’t receive draft-pick compensation. AP MLB: https://apnews.com/hub/MLB

"It's been disappointing to see some of the performances from certain players," Ferdinand said. "Manchester United is a club with a rich history and a tradition of excellence. We cannot afford to have individuals who are not giving their all for the shirt. It's time to make some tough decisions and kick out those who are not up to the standard."

In conclusion, while the video of the data center fire at Alibaba Cloud may have caused concern among users and the general public, the company's response and clarification should help alleviate any fears regarding the safety and reliability of their cloud services. It is crucial for cloud service providers to be transparent in their communication and proactive in addressing incidents to maintain the trust and confidence of their customers.As open enrollment for Affordable Care Act plans continues through Jan. 15, you’re likely seeing fewer social media ads promising monthly cash cards worth hundreds, if not thousands, of dollars that you can use for groceries, medical bills, rent and other expenses. But don’t worry. You haven’t missed out on any windfalls. Clicking on one of those ads would not have provided you with a cash card — at least not worth hundreds or thousands. But you might have found yourself switched to a health insurance plan you did not authorize, unable to afford treatment for an unforeseen medical emergency, and owing thousands of dollars to the IRS, according to an ongoing lawsuit against companies and individuals who plaintiffs say masterminded the ads and alleged scams committed against millions of people who responded to them. The absence of those once-ubiquitous ads are likely a result of the federal government suspending access to the ACA marketplace for two companies that market health insurance out of South Florida offices, amid accusations they used “fraudulent” ads to lure customers and then switched their insurance plans and agents without their knowledge. In its suspension letter, the Centers for Medicare & Medicaid Services (CMS) cited “credible allegations of misconduct” in the agency’s decision to suspend the abilities of two companies — TrueCoverage (doing business as Inshura) and BenefitAlign — to transact information with the marketplace. CMS licenses and monitors agencies that use their own websites and information technology platforms to enroll health insurance customers in ACA plans offered in the federal marketplace. The alleged scheme affected millions of consumers, according to a lawsuit winding its way through U.S. District Court in Fort Lauderdale that seeks class-action status. An amended version of the suit, filed in August, increased the number of defendants from six to 12: — TrueCoverage LLC, an Albuquerque, New Mexico-based health insurance agency with large offices in Miami, Miramar and Deerfield Beach. TrueCoverage is a sub-tenant of the South Florida Sun Sentinel in a building leased by the newspaper in Deerfield Beach. — Enhance Health LLC, a Sunrise-based health insurance agency that the lawsuit says was founded by Matthew Herman, also named as a defendant, with a $150 million investment from hedge fund Bain Capital’s insurance division. Bain Capital Insurance Fund LP is also a defendant. — Speridian Technologies LLC, accused in the lawsuit of establishing two direct enrollment platforms that provided TrueCoverage and other agencies access to the ACA marketplace. — Benefitalign LLC, identified in the suit as one of the direct enrollment platforms created by Speridian. Like Speridian and TrueCoverage, the company is based in Albuquerque, New Mexico. — Number One Prospecting LLC, doing business as Minerva Marketing, based in Fort Lauderdale, and its founder, Brandon Bowsky, accused of developing the social media ads that drove customers — or “leads” — to the health insurance agencies. — Digital Media Solutions LLC, doing business as Protect Health, a Miami-based agency that the suit says bought Minerva’s “fraudulent” ads. In September, the company filed for Chapter 11 protection from creditors in United States Bankruptcy Court in Texas, which automatically suspended claims filed against the company. — Net Health Affiliates Inc., an Aventura-based agency the lawsuit says was associated with Enhance Health and like it, bought leads from Minerva. — Garish Panicker, identified in the lawsuit as half-owner of Speridian Global Holdings and day-to-day controller of companies under its umbrella, including TrueCoverage, Benefitalign and Speridian Technologies. — Matthew Goldfuss, accused by the suit of overseeing and directing TrueCoverage’s ACA enrollment efforts. All of the defendants have filed motions to dismiss the lawsuit. The motions deny the allegations and argue that the plaintiffs failed to properly state their claims and lack the standing to file the complaints. The Sun Sentinel sent requests for comment and lists of questions about the cases to four separate law firms representing separate groups of defendants. Three of the law firms — one representing Brandon Bowsky and Number One Prospecting LLC d/b/a Minerva Marketing, and two others representing Net Health Affiliates Inc. and Bain Capital Insurance Fund — did not respond to the requests. A representative of Enhance Health LLC and Matthew Herman, Olga M. Vieira of the Miami-based firm Quinn Emanuel Urquhart & Sullivan LLP, responded with a short message saying she was glad the newspaper knew a motion to dismiss the charges had been filed by the defendants. She also said that, “Enhance has denied all the allegations as reported previously in the media.” Catherine Riedel, a communications specialist representing TrueCoverage LLC, Benefitalign LLC, Speridian Technologies LLC, Girish Panicker and Matthew Goldfuss, issued the following statement: “TrueCoverage takes these allegations very seriously and is responding appropriately. While we cannot comment on ongoing litigation, we strongly believe that the allegations are baseless and without merit. “Compliance is our business. The TrueCoverage team records and reviews every call with a customer, including during Open Enrollment when roughly 500 agents handle nearly 30,000 calls a day. No customer is enrolled into any policy without a formal verbal consent given by the customer. If any customer calls in as a result of misleading content presented by third-party marketing vendors, agents are trained to correct such misinformation and action is taken against such third-party vendors.” Through Riedel, the defendants declined to answer follow-up questions, including whether the company remains in business, whether it continues to enroll Affordable Care Act clients, and whether it is still operating its New Mexico call center using another affiliated technology platform. The suspension notification from the Centers for Medicare and Medicaid Services letter cites several factors, including the histories of noncompliance and previous suspensions. The letter noted suspicion that TrueCoverage and Benefitalign were storing consumers’ personally identifiable information in databases located in India and possibly other overseas locations in violation of the centers’ rules. The letter also notes allegations against the companies in the pending lawsuit that “they engaged in a variety of illegal practices, including violations of the (Racketeer Influenced & Corrupt Organizations, or RICO Act), misuse of consumer (personal identifiable information) and insurance fraud.” The amended lawsuit filed in August names as plaintiffs five individuals who say their insurance plans were changed and two agencies who say they lost money when they were replaced as agents. The lawsuit accuses the defendants of 55 counts of wrongdoing, ranging from running ads offering thousands of dollars in cash that they knew would never be provided directly to consumers, switching millions of consumers into different insurance policies without their authorization, misstating their household incomes to make them eligible for $0 premium coverage, and “stealing” commissions by switching the agents listed in their accounts. TrueCoverage, Enhance Health, Protect Health, and some of their associates “engaged in hundreds of thousands of agent-of-record swaps to steal other agents’ commissions,” the suit states. “Using the Benefitalign and Inshura platforms, they created large spreadsheet lists of consumer names, dates of birth and zip codes.” They provided those spreadsheets to agents, it says, and instructed them to access platforms linked to the ACA marketplace and change the customers’ agents of record “without telling the client or providing informed consent.” “In doing so, they immediately captured the monthly commissions of agents ... who had originally worked with the consumers directly to sign them up,” the lawsuit asserts. TrueCoverage employees who complained about dealing with prospects who called looking for cash cards were routinely chided by supervisors who told them to be vague and keep making money, the suit says. When the Centers for Medicare and Medicaid Services began contacting the company in January about customer complaints, the suit says TrueCoverage enrollment supervisor Matthew Goldfuss sent an email instructing agents “do not respond.” The lawsuit states the “scheme” was made possible in 2021 when Congress passed the American Rescue Plan Act in the wake of the COVID pandemic. The act made it possible for Americans with household incomes between 100% and 150% of the federal poverty level to pay zero in premiums and it enabled those consumers to enroll in ACA plans all year round, instead of during the three-month open enrollment period from November to January. Experienced health insurance brokers recognized the opportunity presented by the changes, the lawsuit says. More than 40 million Americans live within 100% and 150% of the federal poverty level, while only 15 million had ACA insurance at the time. The defendants developed or benefited from online ads, the lawsuit says, which falsely promised “hundreds and sometimes thousands of dollars per month in cash benefits such as subsidy cards to pay for common expenses like rent, groceries, and gas.” Consumers who clicked on the ads were brought to a landing page that asked a few qualifying questions, and if their answers suggested that they might qualify for a low-cost or no-cost plan, they were provided a phone number to a health insurance agency. There was a major problem with the plan, according to the lawsuit. “Customers believe they are being routed to someone who will send them a free cash card, not enroll them in health insurance.” By law, the federal government sends subsidies for ACA plans to insurance companies, and not to individual consumers. Scripts were developed requiring agents not to mention a cash card, and if a customer mentions a cash card, “be vague” and tell the caller that only the insurance carrier can provide that information, the lawsuit alleges. In September, the defendants filed a motion to dismiss the claims. In addition to denying the charges, they argued that the class plaintiffs lacked the standing to make the accusations and failed to demonstrate that they suffered harm. The motion also argued that the lawsuit’s accusations failed to meet requirements necessary to claim civil violations of the RICO Act. Miami-based attorney Jason Kellogg, representing the plaintiffs, said he doesn’t expect a ruling on the motion to dismiss the case for several months. The complaint also lists nearly 50 companies, not named as defendants, that it says fed business to TrueCoverage and Enhance Health. Known in the industry as “downlines,” most operate in office parks throughout South Florida, the lawsuit says. The lawsuit quotes former TrueCoverage employees complaining about having to work with customers lured by false cash promises in the online ads. A former employee who worked in the company’s Deerfield Beach office was quoted in the lawsuit as saying that senior TrueCoverage and Speridian executives “knew that consumers were calling in response to the false advertisements promising cash cards and they pressured agents to use them to enroll consumers into ACA plans.” A former human resources manager for TrueCoverage said sales agents frequently complained “that they did not feel comfortable having to mislead consumers,” the lawsuit said. Over two dozen agents “came to me with these complaints and showed me the false advertisements that consumers who called in were showing them,” the lawsuit quoted the former manager as saying. For much of the time the companies operated, the ACA marketplace enabled agents to easily access customer accounts using their names and Social Security numbers, change their insurance plans and switch their agents of record without their knowledge or authorization, the lawsuit says. This resulted in customers’ original agents losing their commissions and many of the policyholders finding out they suddenly owed far more for health care services than their original plans had required, the suit states. It says that one of the co-plaintiffs’ health plans was changed at least 22 times without her consent. She first discovered that she had lost her original plan when she sought to renew a prescription for her heart condition and her doctor told her she did not have health insurance, the suit states. Another co-plaintiff’s policy was switched after her husband responded to one of the cash card advertisements, the lawsuit says. That couple’s insurance plan was switched multiple times after a TrueCoverage agent excluded the wife’s income from an application so the couple would qualify. Later, they received bills from the IRS for $4,300 to cover tax credits issued to pay for the plans. CMS barred TrueCoverage and BenefitAlign from accessing the ACA marketplace. It said it received more than 90,000 complaints about unauthorized plan switches and more than 183,500 complaints about unauthorized enrollments, but the agency did not attribute all of the complaints to activities by the two companies. In addition, CMS restricted all agents’ abilities to alter policyholders’ enrollment information, the lawsuit says. Now access is allowed only for agents that already represent policyholders or if the policyholder participates in a three-way call with an agent and a marketplace employee. Between June and October, the agency barred 850 agents and brokers from accessing the marketplace “for reasonable suspicion of fraudulent or abusive conduct related to unauthorized enrollments or unauthorized plan switches,” according to an October CMS news release . The changes resulted in a “dramatic and sustained drop” in unauthorized activity, including a nearly 70% decrease in plan changes associated with an agent or broker and a nearly 90% decrease in changes to agent or broker commission information, the release said. It added that while consumers were often unaware of such changes, the opportunity to make them provided “significant financial incentive for non-compliant agents and brokers.” But CMS’ restrictions might be having unintended consequences for law-abiding agents and brokers. A story published by Insurance News Net on Nov. 11 quoted the president of the Health Agents for America (HAFA) trade group as saying agents are being suspended by CMS after being flagged by a mysterious algorithm that no one can figure out. The story quotes HAFA president Ronnell Nolan as surmising, “maybe they wrote too many policies on the same day for people who have the same income or they’re writing too many policies on people of a certain occupation.” Nolan continued, “We have members who have thousands of ACA clients. They can’t update or renew their clients. So those consumers have lost access to their professional agent, which is simply unfair.” Ron Hurtibise covers business and consumer issues for the South Florida Sun Sentinel. He can be reached by phone at 954-356-4071, on Twitter @ronhurtibise or by email at rhurtibise@sunsentinel.com.How Washington outsider Jimmy Carter wooed voters tired of Vietnam and Watergate